Vef Ab (VEFAB) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day and thank you for standing by. Welcome to the VF2Q26 earnings call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 1 and 1 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 1 and 1 again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, David Nangle, CEO. Please go ahead. Thank you very much. Good morning. Good afternoon, everybody. And welcome, as usual, to our results conference call, which follows the release of our 2Q results earlier today. On the call with myself, Dave Nangle, CEO. With me is Alexis Kamoudos. our CIO and partner since pretty much inception at BEF. I'll start and then Alexis will come in and I'll round up and then we'll open up happily for questions after about 15 minutes of presentation as per usual. Just to kick off on slide two, some of the key events of the quarter and we'll go through some of these in a bit more detail in the presentation itself. But, you know, the headline nab itself was broadly flat and quarter on quarter, albeit up 8% plus year on year. That's in dollar terms, slightly higher in SEC. From a NAV point of view, there's a lot of detail below that. Really, valuation multiples compressed in some of our key markets, but that was offset by the underlying performance, strong performance, robust from the portfolio itself, which continues to be in a good state of health. Specifically, credit tasks we always focus on in these events, given its size and importance to VF. Another strong quarter for credit tasks ...